With names like Chanel , Louis Vuitton and Yves Saint Laurent under its belt , it 's little wonder Paris has earned a reputation as one of the fashion capitals of the world .

If `` French chic '' has become synonymous with the elegance , grace and style of its country 's powerhouse fashion labels and catwalk shows , this weekend that glamor will be out in force on a very different type of track -- the Prix de l'Arc de Triomphe . Your average horse race this is not .

While Britain 's Royal Ascot often displays images of Tango-colored ladies kicking off their heels , their French counterparts take a distinctly more demure approach to a day at the races .

`` French dressing is less spectacular than Ascot , it 's less extroverted , '' Arc spokesman Julien Pescatore said .

`` The French style is very classic . It 's about elegance , beauty and glamor . ''

Such was the clampdown on decorum at this year 's Royal Ascot , organizers went to the extent of publishing style guides for race-goers .

Ladies were advised that all dresses were to be of `` modest '' length -- defined as `` falling just above the knee or longer . '' Shorts and shoulderless dresses were also deemed a non-no .

While Parisian race-goers adhere to a more classic style , one fashion accessory appears universal -- the obligatory outrageous hat .

`` The hat is an essential element of the Prix de l'Arc de Triomphe , '' says Pescatore .

`` It started in the 1920s as a way to convey some eccentricity , to do some showing-off . Today that might mean a hat with the Eiffel Tower on top . ''

Set on the picturesque Longchamp racecourse in Paris , `` the Arc , '' as it is known , prides itself on being Europe 's most prestigious -- and richest -- horse race .

With almost $ 8 million -LRB- $ 10.4 million -RRB- in prize money on offer over the weekend , the Qatar Racing and Equestrian Club-sponsored event attracts an elite clientele of royalty , world leaders and business heavyweights .

Each year the grandstands fill with the `` crème de la crème '' of European society , with Monaco 's Princess Charlotte Casiraghi , the daughter of Princess Caroline , and Spanish model Irene Salvador some of the glamorous guests in 2011 .

For the super rich wanting to beat the crowds , a helicopter flying from London to Issy-les-Moulineaux in Paris will take around one hour and 45 minutes -- and set you back a whopping # 5,480 -LRB- $ 8,874 -RRB- .

That 's not to mention the 15-minute car hire from Issy-les-Moulineaux to Longchamp costing another # 200 -LRB- $ 323 -RRB- .

The Arc 's slogan : `` Ce n'est pas une course , c'est un monument '' -- `` Not so much a race as a monument , '' points to the grand imagery surrounding this uniquely French event .

Founded in 1920 , the Prix de l'Arc de Triomphe was named after the very monument built in honor of French allied forces during World War One .

This year will mark the 91st Arc , which has only been canceled twice in its illustrious history -- in 1939 and 1940 during World War Two .

Yet despite this emphasis on prestige , the Arc also remains one of Europe 's most accessible races for the average punter , with general admission to Sunday 's headline event costing just $ 8 -LRB- $ 10.4 -RRB- .

A ticket to Royal Ascot 's grandstand , meanwhile , will cost you # 75 -LRB- $ 121 -RRB- .

Arc organizers are preparing for a huge Japanese contingent this year , as horse Orfevre aims to deliver the country 's first win at Longchamp .

The Japanese triple crown winner had been a co-favorite to win the race alongside Epsom Derby winner Camelot .

But its chances now look unlikely after drawing the far outside stall 18 , where just one horse has won in the 92-year history of the race .

Nonetheless there will still be Japanese-speaking stewards at betting desks to assist the large numbers of Asian punters expected .

It may be known as `` The Sport of Kings , '' but come Sunday the Arc may also be referred to as the `` Sport of Bakers '' if French Derby winner Saonois takes the crown .

Bought by a prosperous baker for just $ 10,000 -LRB- $ 13,056 -RRB- as a yearling , Saonois is now the other favorite to win the race after drawing the plumb stall of two .

Whatever the outcome , one thing is for sure , the French crowd will be celebrating in style .

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Think `` French chic '' and the words elegance , style and grace spring to mind

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That glamor will be on display at this weekend 's Prix de l'Arc de Triomphe

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Stark contrast to UK 's Royal Ascot , which has a more flamboyant style

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Prestigious race regularly attracts the `` creme de la creme '' of European society